Erik Voorhees, the CEO and Founder of non-custodial exchange Shapeshift, plays down the severity of selling unregistered securities.
Speaking about the time when the Securities and Exchange Commission (SEC) charged him for publicly offering shares without registering them, Voorhees said:
“it was a total garbage non-crime and I had to deal with them for close to a year, spent hundreds of thousands of dollars on lawyers, and ultimately had to settle with them for fifty grand for the crime of building a company that people wanted to invest in and making the investors a bunch of money.”
Voorhees Talks About His “Horrible” Experience Being Chased by The SEC
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